Needham & Company LLC Lowers NewAmsterdam Pharma (NASDAQ:NAMS) Price Target to $42.00

NewAmsterdam Pharma (NASDAQ:NAMS) had its target price reduced by Needham & Company LLC from $46.00 to $42.00 in a report issued on Thursday,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also weighed in on NAMS. HC Wainwright reissued a “buy” rating and issued a $48.00 target price on shares of NewAmsterdam Pharma in a research report on Tuesday, January 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 target price on shares of NewAmsterdam Pharma in a research report on Friday, January 24th. Finally, Scotiabank boosted their target price on NewAmsterdam Pharma from $35.00 to $47.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 11th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $43.80.

NewAmsterdam Pharma Stock Up 0.4 %

NAMS opened at $21.00 on Thursday. The stock has a 50-day moving average price of $22.55 and a 200-day moving average price of $20.30. NewAmsterdam Pharma has a 1 year low of $15.19 and a 1 year high of $27.29.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.47). The firm had revenue of $12.77 million during the quarter, compared to analysts’ expectations of $3.30 million. As a group, equities research analysts expect that NewAmsterdam Pharma will post -1.75 EPS for the current fiscal year.

Insider Buying and Selling at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, major shareholder Nap B.V. Forgrowth sold 100,728 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $26.10, for a total transaction of $2,629,000.80. Following the completion of the sale, the insider now directly owns 10,908,502 shares in the company, valued at $284,711,902.20. The trade was a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 404,927 shares of company stock worth $10,390,787 in the last three months. 19.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

A number of large investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of NewAmsterdam Pharma by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 86,322 shares of the company’s stock valued at $1,433,000 after purchasing an additional 1,399 shares during the period. GF Fund Management CO. LTD. bought a new stake in shares of NewAmsterdam Pharma during the 4th quarter valued at about $50,000. National Bank of Canada FI bought a new position in shares of NewAmsterdam Pharma during the 4th quarter valued at approximately $51,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of NewAmsterdam Pharma during the 4th quarter valued at approximately $80,000. Finally, Legal & General Group Plc grew its stake in shares of NewAmsterdam Pharma by 24.8% during the 4th quarter. Legal & General Group Plc now owns 22,946 shares of the company’s stock valued at $590,000 after acquiring an additional 4,556 shares during the period. 89.89% of the stock is currently owned by institutional investors.

NewAmsterdam Pharma Company Profile

NewAmsterdam Pharma Company N.V., a late-stage biopharmaceutical company, develops therapies to enhance patient care in populations with metabolic disease. It is developing obicetrapib, an oral low-dose cholesteryl ester transfer protein (CETP) inhibitor, that is in various clinical trials as a monotherapy and a combination therapy with ezetimibe for lowering LDL-C for cardiovascular diseases.